Buyers, Should You Jump?

The market is now in a state of "buyer's choice" rather than, sellers will only do this.  So, how can it still seem that the sellers are "winning" in this market.  Here's what I am seeing in our area, in Connecticut.  If the home is in pristine condition, priced agressively and in a good location, it sells in less than two weeks. If the buyer doesn't jump right in to an offer, he will either loose the chance of buying that home or a bidding war will determine who moves into this home next.  I just had this happen to my buyer clients yesterday.  While they were "thinking" about the possibility of moving into a beautiful home in my town, someone else bought it out from under them.  They had discussed with their banker, the options open to them.  They own a home now, so, they were looking into the possiblity of a "bridge loan."  The listing agent called my office and left a message.  I returned her call and we discussed the possibility of an offer coming in from another buyer.  She had nothing in her hands yet, but, was told it might be coming sometime in the early evening.  I immediately tried to find my buyers.  Holiday weekend, yikes!  I finally heard from them in the late afternoon. 

After discussing their options, they decided to talk about it and call me back.  I went on to the computer and checked the mls listings for the homes that were currently under deposit in their present neighborhood.  When I completed their CMA, two days earlier, there were three under deposit.  Just wanted to confirm the status and see if any thing else may have come on.  I checked the "under deposit" status on the mls home page.  Much to my surprise, the home they were going to write an offer on in my town, was already under deposit.  I gave my clients a quick call back to let them know.  I then, called the listing agent, to let her know that my clients had procured financing for a bridge loan and were strongly considering this property she had listed.  I think she was surprised. Not many mortgage officers work the weekend, but, this one did.  If she had called me one more time, she would have had people bidding up this property. 

I then, told her that I noticed it was already gone.  She said, yes, I felt it was a good offer.  So, there you have it.  In just two days, you really need to be ready to jump!  This property was listed for seven days.  My clients will place their home on the market this week.  They will probably build a new, custom home.  It isn't often, that a pristine home is offered for sale.  Their home is pristine, so we are confident of a quick sale.  Sellers are still winning in this buyer's market.  If you have a pristine home, list it now!  Many buyers are waiting, just for your home!